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Billabong

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by

Jeff Lohr

on 14 May 2014

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Transcript of Billabong

Billabong
Management Learning Past to Present
Founded by Gordon Merchant in 1973 on the coast of Australia
Ethics and Social Responsibility
Environment, Innovation, and Sustainability
V1 WetSuit
Human Resources Management
Organizational Culture and Change
What Billabong says...
Ethical and responsible
Committed to social and environmental causes
Embraces free-spirited, laid-back attitude
Alissa Leyman, Jeffrey Lohr
Madeline Pugh, Mark Jason Sevilleja
Brittney Toca

Sustainability
In-house Work
Recycling
Reduction in packaging
Phase out paper-based purchasing procedures
Recycler Series
"Eco-supreme Suede"
Introduced in 2007
Organic Cotton
Water-based Dyes- Not chemical


Maintaining a quality workforce
Nominations Committee

Structure the Board to add value
- Non-Executive Directors

- Maintain balance b/w internal & external Directors

- Advise Board- structure, size and composition

- Set experience and expertise required

Compensation and Benefits
Human Resource and Remuneration Committee
- Assists Board in establishing remuneration policies which:
- Create sustainable value for stakeholders
- Fairly reward Execs. & Directors
- Comply with legislation and regulations

- Sets key performance indicators (KPI's)
- Impact the discretionary element of the Executive’s pay

Started by cutting board shorts on kitchen
table and selling to local surf shops
Surfers drawn to superior functionality of Billabong board shorts: more durable due to triple-stitching technique.
1980's: established in Australia; Began to internationally expand: North America
1990's: Surf industry boom; Billabong expands in other markets-skate, snow and wake.
IPO: 2000s (Australian Securities Exchange). Now Billabong can grow the business.
Acquisitions: (2000-2013)

Von Zipper
Element Skateboards
Nixon watches
Xcel wetsuits
Swell.com
RVCA
Today:

-CEO- Neil Fiske
-2012- Billabong recorded a loss of $537 million
-Feb 2012- Announce plans to restructure. 150 stores will close, 400 full-time jobs lost.
Partial sale of Nixon watches for $285 million (used to reduce debt)
-Sep 2013, shares fell to 42 cents (worst-performing among the S&P/ASX 200).
Deciding to focus on its core brands: Billabong, Element, and RVCA.
What Employees say...
Fun place to work.
Poor pay, little room for growth.
Long hours, too buttoned up for retail, managers were lackluster in motivation.
Overall distrust in upper management.
Process of attracting, developing, and maintaining a talented work force

Group Code of Conduct
Company practices and policies.
Reflects the company’s values of integrity, honesty, trust, teamwork, respect, and a desire for excellence.
Promote ethical and responsible decision making.
Corporate Governance
Reinforces the need for Directors, employees, consultants and all other representatives of the Company to always act in good faith, in the Company's best interests and in accordance with all applicable policies, procedures, laws and regulations relevant to the regions in which the Company operates.
Ethics Self-Governance
"In order to meet the expectations of our shareholders, employees, customers, suppliers, creditors, consumers and the broader community, we require all of our people to use their judgment, to be accountable for their actions and to conduct business with integrity, honesty and transparency. This Code of Conduct is the written embodiment of our commitment to each of these principles and is fully supported by our directors and senior management team."
Whistleblower Protection
“Our people are encouraged to report conduct which they reasonably believe to be corrupt, illegal or unethical on a confidential basis, without fear of reprisal, dismissal or discriminatory treatment.”
Securities Trading Policy
Regulates dealings by Directors, senior managers and certain employees in shares, options and other securities issued in the Company.
Ensures that directors and group employees are aware of the legal restrictions on trading BBG securities when in possession of unpublished, price- sensitive information.
"The Company values diversity and recognizes the benefits of a diverse workforce."

Objectives:
Number of female Non-Executive Directors – no less than 40%.
Number of females in Senior Executive positions – no less than 35%.
Review of gender remuneration parity to be undertaken on an annual basis and action taken to reduce identified gaps.
Workplace Equity
and Diversity Policy
Corporate
Social
Responsibility
Corporate
Social
Performance
Perspective: Shared Value View
Strategy: Proactive Strategy
"Approaches business with decisions with the understanding that economic and social value are interconnected"
"Actively pursues social responsibility by taking discretionary actions to make things better in the future."
Any Questions?
Thank you!

“The idea for the Billabong V1 wetsuit is a simple one, but I believe that it will help us continue to push the limits in big surf. At the same time keep surfers much safer. I have been part of the design and development process every step of the way with the V1, and I see ti as a project that will see continued innovation and help to shape the future of big wave surfing.” –Shane Dorian
http://www.billabong.com/v1wetsuit/
Product Innovation
"Be The Change You Want In The World"
*Won Product Innovation of the Year at the Australian Surf Industry Awards held by the SBIA (Surf & Boardsports Industry Association)
Full transcript